Despite the organised labour and the federal government agreeing on a new salary structure, not every Nigerian worker will be paid the new national minimum wage.
According to Vanguard in the opinion of the 10-man sub-committee of the tripartite committee, some establishments are not mandated to pay the new national minimum wage.
President Bola Tinubu recently approved a N70,000 minimum wage for Nigerian workers. …CONTINUE READING
To qualify for exemption from the mandatory payment of minimum wage, a business must fall under a Nano business (Business managed by 1-3 persons with capital below N50,000) and micro business enterprise, have 10 or a smaller number of employees, or be a startup.
Others include companies of not more than three years in existence, establishments that have less than N50-million revenue per quarter or N200 million revenue per annum, industries which have their staff remuneration and compensation regulated by other acts of the national assembly, or any other business which the minister of labour and employment or the executive chairman of the national salaries, incomes and wages commission finds to be reasonably justified to be waived or exempted.
Minimum wage: List of exempted organisations below:
Companies of not more than three years in existence.
Establishments that have less than N200 million revenue per annum.
Organisations with less than 10 staff.
Industries which have their staff remuneration regulated by other acts of the national assembly.
Startup businesses.
Nano business (Business managed by 1-3 persons with capital below N50,000) and micro business enterprise.
